EU finance ministers discussed at an informal meeting on Saturday in Milan, increase investment opportunities in Europe. Poland for the first time at EU presented its own idea of a pan-European fund growth.
As reported in Saturday Polish Permanent Representation to the EU finance ministers agreed that the current economic situation, you have to specifically promote public and private investment.
European Commission together with the European Investment Bank (EIB) to prepare a list of projects that will support economic growth. Both institutions also asked to identify the barriers that previously prevented the implementation of such initiatives.
Ministers at subsequent meetings are to consider both the existing and new instruments and mechanisms that help in conversion projects in the actual expenditure for investment, jobs and better prospects for Europe.
One of the ideas presented in this case Poland. Mateusz Szczurek Finance Minister presented the idea of a pan-European investment fund, which would be financed by large European projects in the energy, transport, information technology sector and defense.
For the first time Szczurek introduced the idea last week at a conference organized by the Bruegel Institute in Brussels. He explained then that the fund will eventually amount to 700 billion euros, and an initial financial contribution of the EU countries would provide him. Later would be financed on the market, without burdening the budget deficits of EU countries.
According to the message of our representations to the EU ministers agreed to include this proposal in the list of possible solutions. Further work on them will be carried out by the EIB in cooperation with Member States.
Reuters outside the Polish concept of mentions in this context, even the Italian idea of creating financial tools to assist companies in the financing of the Franco-German proposal on increasing private investment and the appeal of the new head of the European Commission, Jean-Claude Juncker, the creation of a $ 300 billion euro program for the recovery of the European economy.
We have no magic wand, but we need economic growth. You need to stimulate demand without increasing deficits – told reporters as quoted by Reuters French finance minister Michel Sapin.
The EU economy is still unable to recover from the global crisis at the end of the last decade. Last year, GDP growth in the EU was only 0.1 percent. Unemployment in the old continent remains at a very high level of over 11 per cent., Which means that no work is 25 million people.
Krzysztof Strzępka (PAP)
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